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Universal Salvage (UVS)

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Friday 05 October, 2001

Universal Salvage

Holding in Company

Universal Salvage PLC
5 October 2001


Letter to: Company Announcements Office

COMPANIES ACT 1985  
DISCLOSURE OF INTERESTS IN SHARES 

Universal Salvage plc (the 'Company') received a notification under Companies  
Act 1985 (the 'Act') from Fidelity Investments in respect of the disclosable  
interests of Fidelity International Limited (FIL) and others in 1,096,628  
Ordinary 10 pence shares in the Company representing 3.98% of the issued share  
capital of the Company, which stands at 27,545,521 Ordinary shares. 

Letter from: Universal Salvage Plc 



Amendment No. 7 

NOTIFICATIONS UNDER SECTIONS 198 TO 202 -- UK COMPANIES ACT 

1. Company in which shares are held:   Universal Salvage Plc

2. Notifiable Interest:                Ordinary Shares

        Fidelity International Limited (FIL)
        P.O. Box HM 670 
        Hamilton HMCX, Bermuda

        Parent holding company for various direct and indirect subsidiaries,
        including Fidelity Investments Services Ltd. (FISL), investment managers
        for various non-US investment companies and institutional clients. (See 
        Schedule A for listing of Registered Shareholders and their holdings.)
        

3. The notifiable interests also comprise the notifiable interest of: 

        Mr. Edward C. Johnson 3d
        82 Devonshire Street
        Boston, MA 02109

        Principal shareholder of Fidelity International Limited.


4. The notifiable interests include interest held on behalf of authorized unit  
   trust schemes in the U.K. notwithstanding the exemption from reporting 
   pursuant to Section 209 (1)(h) of the Companies Act 1985. 

5. These notifications of disclosable interests constitute separate 
   notifications of interest in the shares and are combined solely for the  
   purposes of clarity. Nothing herein should be taken to indicate that Fidelity
   International Limited and its direct and indirect subsidiaries, or Mr. Edward
   C. Johnson 3d act as a group or in concert in respect of the disclosed  
   interests, or that they are required to submit these notifications on a joint
   basis. 

6. The disclosable interests arise under section 208(4)(b) of the Act, namely  
   where a person, not being the registered holder, is entitled to exercise a 
   right conferred by the holding of the shares or to control the exercise of 
   such rights, or under section 203 of the Act respectively. 



SCHEDULE A

SECURITY: Universal Salvage Plc                                Amendment No 7


                      SHARES HELD   MANAGEMENT   NOMINEE/REGISTERED 
                                     COMPANY     NAME 

(Ordinary Shares) 
                          926,000     FISL       Clydesdale Bank (Head Office)
                                                 Nominees Limited 

                          167,500     FIL        Chase Nominees 

                            3,128     FIL

TOTAL ORDINARY SHARES:  1,096,628 

CURRENT OWNERSHIP PERCENTAGE:  3.98%

SHARES IN ISSUE:       27,545,521

CHANGE IN HOLDINGS SINCE
 LAST FILING:            (236,872) ordinary shares